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Virginia dairy officials say the pandemic closed restaurants and schools, which cancelled orders and left the US with about a 10% milk oversupply. About 5% of national milk was dumped in late March and early April.
Farmers were expected to feel the price pressure when April milk payments arrived in May.
A 10% oversupply is far larger than the usual 1-2% surplus and has pushed milk prices sharply lower. Cheese-linked pricing means the impact extends to processing demand and milk-based feed ingredients.
dnronline.comIAN MUNRO Daily News-Record29 апр. 2020 г.После 49 прошлых событий (события «макро»: медвежий) Молоко (Class III) в среднем изменился на -0,6 % за 5 сессий (33% вверх; средняя половина от -8,5 % до +0,6 %) и на -7,5 % за 20.
Изменения бенчмарка каждого товара относительно последнего закрытия до события. Исторические данные объединяют прошлые события того же типа; они описывают случившееся, а не то, что произойдёт. Не является инвестиционной рекомендацией.
A roughly 10% oversupply and milk dumping signal a supply glut that pressures cheese and milk prices, with farmers expected to feel the price pressure when April milk payments arrive.
A roughly 10% oversupply with dumping and the expectation of price pressure in May payments point to a supply-demand imbalance pushing prices lower.
